Camac Partners Launches First Hedge Fund

Apr 27 2011 | 9:06am ET

New York-based Camac Partners has launched its first hedge fund, a global special situations vehicle. The new fund invests in several asset classes and seeks to “uncover situations that have a severe lack of competition, coupled with indiscriminate selling,” according to a source close to the firm.

The fund was started by Eric Shahinian, who most recently served as an analyst at Kingstown Capital, an $800 million special situations fund founded by a former Gotham Capital portfolio manager. Shahinian began his hedge fund career as an intern at The Baupost Group, which is now a $20 billion value hedge fund.

The new fund has a three year lockup and charges a management fee of 1% and performance fee of 20%. The fund may hold a significant cash balance in the absence of compelling investment opportunities. Seward and Kissel is serving as the legal advisor for the fund and BTIG is its prime broker.

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